Age: Minimum of 21 when applying for loan and maximum of 60 at loan maturity

Income: Be earning a net income of at least Rs. 15,000/- per month

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Overview - Axis Bank Personal Loan

Axis bank is the third largest private sector bank in India. The bank offers a large spectrum of financial services all across the globe covering Mid Corporate, MSMEs, Agriculture and Retail Businesses. The bank has a network of 3,304 branches across the country and 14,163 ATMs.
The international operations of the bank are spread across 9 international offices with branches at Singapore, Dubai, Colombo, Shanghai, Dhaka and Dubai along with an overseas subsidiary in London. Axis bank began its operations in the year 1994 and is the first new generation private sector banks.
With a balance sheet of 6, 01,468Crores as on 31st March, 2017 and has achieved consistent growth. The bank has its registered office in Ahmedabad and head office in Mumbai. The bank has employed around 50000 employees and a market specialization of Rs 10583 trillion.

About Axis Bank Personal Loan

Axis bank is the third largest private sector bank in the country which is a choice of many when it comes to personal loans. Axis bank offers a variety of offers to fulfil all the financial requirements of the customers
living in any part of the country. Personal loans by Axis banks are offered to the customers with minimum documentation, fast approval and
are open for all those who have a secured source of income irrespective of the reason of application. Personal loans can be used for various
purposes such as medical expenses, weddings, home renovation or starting a business. Axis bank offers personal loans for both salaried and self employed individuals. Personal loans from Axis banks are made available to the customers with
amounts ranging from Rs.15000 to Rs 1000000 and with a flexible tenure of 12 to 60 months. The bank offers lucrative rates of interests so that the customers are not burdened with heavy payments and feel free to transfer their loans to Axis bank with easy balance transfer mechanism.

Why Choose Axis Bank Personal Loan?

Axis Bank not only comes with lucrative interest rates but also with affordable EMIs and a simple process of availing the loan. It is the bank of choice for many customers as it offers a wide range of benefits and many advantages including the following:

Minimum Documentation

Simple procedures

Quick loan approval

Axis bank offers loans for amounts ranging up to Rs.15 Lakh making it suitable for people seeking a higher quantum of loan amounts. Axis Bank provides loans to all the sections of the society are it urban or rural. Axis Bank has been one of the pioneering banks and has always embraced technology to enhance the experience of its customers and also simplify its operations. Users’ can request for personal loan online without having to physically
visit the bank.

Features of Axis Bank Personal Loan

Axis Bank is one of the top personal loan providers in India as their aim is to give personal attention to each loan applicant. The following are the features of Axis Bank Personal loan:
Axis bank offers the best interest rates and quick approval. The bank offers interest rates ranging from 11.25 % to 24%

Highest Quantum of loans:
The quantum of personal loans offered by Axis bank is highest in its class with an upper limit of Rs 1500000

Zero prepayment/Foreclosure charges:
Axis bank does not charge any prepayment or foreclosure charges for personal loans

Dedicated Helpline:
For any loan related query, Axis bank has a dedicated helpline for loan services available round the clock.

Eligibility Criteria for Axis Bank Personal Loan

Axis Bank Personal loan eligibility includes the following:

For Salaried Individuals:

Maximum age to apply for Axis bank personal loan is 58 years

Minimum Net monthly income Rs.15000

Loan Amount offered Rs10000 to Rs.1500000

Minimum service period with current employer: one year

For self employed individuals:

Minimum age to apply for Axis bank personal loan is 24 years and the maximum age is 65 years

Minimum net annual income is Rs.200000

Loan Amount offered Rs10000 to Rs.1500000

Minimum work experience with the current profession/ business-3 years
Besides all this the CIBIL score plays a very important role in the loan approval process. All these features make it easy to apply for axis bank personal loan.

Documentation Required for Axis Bank Personal Loan

Copy of passport, Voter ID, driving license.

Processing fee cheque

Last 3 months bank statement/ 6 months passbook

Documentation for salaried applicants:

Latest salary slip

Current dated salary certificate with latest form no 16

Documentation for self employed applicants

Latest ITR or form no 16

Latest bank statement

Signed application form with photograph

Interest Rates of Axis Bank Personal Loan

Axis Bank provides customers with the facility of personal loans which can be used to fulfil a variety of personal needs. It could be for your child’s education, for taking vacations or to help finance a wedding etc. Axis Bank Personal loan Interest rates include the following:

Axis Bank Base Rate and Prime lending rate( for existing borrowers):
All existing loan borrowers will continue to avail personal loans with Base rate system. The benchmark prime lending rate of the bank is currently set at 15.75% per annum

Axis Bank Personal loan Interest rates ( Base Rate):
Existing borrowers can avail the personal loans on the base rate interest system. However they also have the option of migrating to the new MCLR based interest rate system.

Fees and Service Charges

Axis Bank Personal loan charges and fees include the following:

Interest Rate(floating)-11.25%-24%

Loan tenure-60 months

Processing fees-1.50%-2%+GST as applicable

EMI Calculator of Axis Bank Personal Loan

Calculating EMI manually can be a tough task with a complicated formula. From the loan amount to the tenure of the loan, the interest rates
each play a very important role in deciding the amount to be paid by each of the loan applicant. Axis Bank Personal loan EMI calculator provides all the assistance to
the customers in calculating the EMIs.

Why iServe Financial ?

All the financial requirements and services provided by iServe financial are available free of cost for the customers and one can avail them without any hesitation.

More than 50+ banks and NBFCs are available on the customer screen from which one can choose according to their convenience.

We provide you with the most dedicated personnel to take care of all your requirements and provide you with appropriate advice.

There are about 1000 products that we offer along with the right mix of finance.

We offer the best rate of interest , gift vouchers and all the other benefits and cash backs for their inter interest

We offer financial services both online and offline and also offer offline counselling

We provide end to end services i.e. we assist you right from the time you apply to the time the deal is finally done and delivered.

We offer services all across the country.

FAQ Axis Bank Personal Loan

How do I repay Axis Bank Personal loan?

You can repay the loan using Equated Monthly Instalments using ECS or through post dated cheques.

What is the maximum loan one can get from Axis Bank?

One can get as much as Rs.1500000 as a personal loan from the Axis Bank and this is available for the successful applicants depending on their financial records and payment history.

What is the tenure of the Axis Bank Personal loan?

The tenure of the Axis Bank personal loan ranges from 12 months to 60 months which is a quiet long period for the repayment of the personal loan.

What is the minimum amount of loan that can be taken from Axis bank?

The minimum loan amount that can be taken from Axis Bank is Rs.50000 for a personal loan.

What are the chances of interest rate changes?

You need not worry about the changes in the interest rates when it does happen changes in interest rates are implemented only after giving ample of notice to the borrowers.

What is the process of Axis Bank personal loan application process?

The Axis Bank loan application after the submission of application involves the following steps:

The bank will provide a receipt of acknowledgement.

Axis bank will then verify the loan application along with the other details

Regardless of the threshold limits the bank is required to process the application without any delay.